₹27.6 crore is far ahead of ₹20 crore that a Bloomberg poll of analysts had estimated. This was led by better margins wherein gross margins expanded by 336 basis points to 15.8%.
Inventory write-back helped here. One basis point is one-hundredth of a percentage point. Though Ebitda margin expansion was curtailed to 215 basis points, as employee expenses and other expenses increased at a faster pace.
Ebitda is earnings before interest, tax, depreciation and amortisation; a key measure of profitability.Obviously, the covid-19 lockdown adversely hit revenues leading to a revenue loss of ₹160 crore for the March quarter.